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Keyword: pensions

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  • President Donald J. Trump is Taking Unprecedented Steps to Protect the Pensions of American Workers

    10/23/2020 8:20:44 AM PDT · by ransomnote · 3 replies ^ | October 22, 2020 | White House
    PROTECTING AMERICAN AUTOWORKERS: President Donald J. Trump is taking action to address the Obama administration’s decision to terminate the pension plans of non-union and salaried autoworkers of the Delphi Corporation. Today, President Trump issued a Presidential Memorandum directing his Administration to review the Obama administration’s decision to terminate the pension plans of Delphi Corporation’s non-union and salaried workers. When Delphi Corporation spun off from General Motors (GM) in 1999, its union workers received a deal from GM to protect their pensions, while non-unionized and salaried workers did not.After both companies went bankrupt, Delphi’s union pensions were fully protected while its...
  • The Political Games Proxy Advisors Play With Workers Retirement Security

    10/19/2020 5:37:37 AM PDT · by Kaslin · 2 replies ^ | October 19, 2020 | Ken Blackwell
    Over the next several weeks, the Department of Labor will begin to sift through the public comments on their recently proposed rule “Fiduciary Duties Regarding Proxy Voting and Shareholder Rights,” seeking the best course of action to ensure that pension beneficiaries across this country receive the benefits they deserve. This rule reaffirms the fiduciary obligations that ERISA-backed pension fund managers owe to their beneficiaries, and puts forward much needed reforms in a proxy advisory industry that for too long has neglected to serve the best interest of pensioners.  In this tumultuous election season, where even non-controversial issues have become political,...
  • Austria's Kurz Warns Against EU Asylum-seeker Distribution

    09/22/2020 5:31:43 PM PDT · by RomanSoldier19 · 2 replies ^ | 09/22/20 AT 6:28 PM | By Blaise GAUQUELIN
    Austrian Chancellor Sebastian Kurz warned Tuesday against any attempt to force EU countries to take in asylum-seekers as the European Commission prepared to unveil a new strategy for handling migration to the bloc. Speaking to AFP in an exclusive interview, Kurz alluded to previous efforts by the European Commission to introduce mandatory quotas for refugees for all EU members, which were rejected by many eastern and central European countries. "We find that the distribution in Europe (of asylum seekers) has failed and many states reject this. It won't work like this," the 34-year-old conservative leader said. On Wednesday, Brussels will...
  • Trump's Labor Department Seeks to Clean Up Left-Wing Abuses of Pensions

    09/15/2020 5:03:49 AM PDT · by Kaslin · 2 replies ^ | September 15, 2020 | Ken Blackwell
    For pension beneficiaries across the country, the recent proposals by the Department of Labor are a positive step towards ensuring that accountability and fiscal responsibility take precedence over any other considerations. Two new rules are currently being weighed. The first, for which the department is currently in the process of sorting through public comment, concerns the role of environmental, social, and governance (ESG) investments in ERISA-backed pension funds. The second takes aim at “proxy voting,” examining the outsized roles that proxy advisory firms have in investment decisions and examining whether their recommendations are always economically beneficial to pensioners.These rules rightly reaffirm a...
  • Half of Singles Don’t Want a Relationship or Even a Date

    08/27/2020 10:56:53 AM PDT · by RomanSoldier19 · 181 replies ^ | Aug 21, 2020 | Bella DePaulo Ph.D.
    A just-released report from the Pew Research Center sends a dagger straight through the heart of a popular mythology—the one that insists that what single people want, more than anything else, is to become coupled. So untrue. The findings, based on a national, random sampling of nearly 5,000 adults in the U.S., showed that 50 percent of single people are not interested in a committed romantic relationship and they are not even interested in a date. Another 10 percent want nothing more than casual dates. About a quarter of single people, 26 percent, would be interested in casual dates or...
  • COVID-19 will turn the state pension problem into a fiscal crisis

    06/30/2020 12:58:19 PM PDT · by SkyPilot · 28 replies
    The Conversation ^ | 16 Jun 20 | Raymond Scheppach
    You may be wondering why, over the last few months, the state pension problem – normally not a subject of widespread discussion – has been in the news. In fact, you may be wondering just what the state pension problem is. The problem – and it’s a big one – is that many of the public employee pension plans run by states don’t have enough money in them to make upcoming pension payments to retired state workers. The first time the subject came up recently was toward the end of February. That’s when teachers in Kentucky called a sick-out...
  • If there really is systemic racism in big city police departments, why don't the democrats in charge fix the problem?

    06/02/2020 6:15:34 PM PDT · by Jim Robinson · 63 replies
    <p>Waiting for someone in the media to ask and waiting for the democrat governors and mayors to provoide answers.</p>
  • Here’s the Ugly Truth About How Much We Save for Retirement

    05/31/2020 7:10:02 AM PDT · by where's_the_Outrage? · 79 replies
    Moneytalksnews ^ | May 31, 2020 | Chris Kissell
    By and large, Americans of all ages believe they are building healthy nest eggs that will support them through a long retirement. In fact, 60% of all workers say they are piling up savings adequate to last through their golden years, according to the 20th annual Transamerica Retirement Survey of Workers. But the actual numbers suggest something different. The median-sized nest egg for baby boomers is a relatively paltry $144,000, according to the Transamerica Center for Retirement Studies. The median is defined as approximately the midpoint of the range in a given category.
  • Report: Pension costs eat up education funding, and teacher pay stagnates

    05/24/2020 8:47:00 AM PDT · by edwinland · 16 replies
    Michigan Public Radio ^ | Spet 11, 2019 | Sarah Cwiek
    Any growth in state education spending over the past five years is being eaten up by greater teacher retiree system costs, according to a new report from the Citizens Research Council of Michigan. Since 2012, school districts have had to return per-pupil funds to the state to cover unfunded liabilities in the Michigan Public School Employee Retirement System (MPSERS). According to current projections, those liabilities won’t be paid off until 2038. According to the Citizens Research Council, that required contribution has eaten up the modest 12% increase in state per-pupil spending since 2013. And that’s reflected in average teacher pay,...
  • Cal Pension Systems are Headed to BK but not due to C-19 Virus?

    05/11/2020 1:44:11 PM PDT · by WLusvardi · 23 replies
    California Globe ^ | May 11, 2020 | Wayne Lusvardi
    Budget crisis could have been avoided if Gov. Newsom had pursued a triage virus health policy instead of marital law and business shutdowns ‘In 1999, most government pension plans were 100% funded. With a 50% increase in liabilities, they instantly became two-thirds funded. And, for the last 20 years they are still two-thirds funded!’ – Sen. John Moorlach State Senator John Moorlach (R-Costa Mesa) knows a lot about municipal budgeting. While campaigning for Orange County Tax Collector-Treasurer in 1994, he accurately predicted the largest municipal bond loss and bankruptcy in history. Moorlach recently wrote in the Bond Buyer: “Put California...
  • Kiss Your State Pension Goodbye

    04/30/2020 3:31:23 AM PDT · by SkyPilot · 90 replies
    Forbes ^ | 23 Apr 20 | Edward Siedle
    When Kentucky senior Senator and Majority Leader Mitch McConnell said this week that he would be in favor of allowing states to use the bankruptcy route to deal with their underfunded public pensions amid the pandemic emergency, state workers and retirees—already struggling with the economic and health crisis—were rightfully alarmed. “Using the bankruptcy route” is code for slashing pension benefits promised to state workers. Under current law, only cities and other local governments can file for bankruptcy and only with permission of the state. McConnell supposedly represents Kentuckians and Kentucky already had the worst-funded state pension system in the...
  • Why Illinois Is In Trouble – 109,881 Public Employees With $100,000+ Paychecks Cost Taxpayers $14B

    04/28/2020 10:09:50 AM PDT · by Zenyatta · 37 replies
    Forbes ^ | 4/27/2020 | Adam Andrzejewski
    Illinois could soon be the first state in history to have its bonds rated as “junk.” Last month, both Moody’s MCO and Standard & Poor’s downgraded Illinois debt to just one notch above junk status. Last week, the Illinois State Senate President Don Harmon (D-Chicago) wrote a letter to Congress requesting a $41.6 billion bailout. Critics balked. In many ways, Illinois may have already crossed the Rubicon. Our analysis at shows that an Illinois family of four now owes more in unfunded pension liabilities ($76,000) than they earn in household income ($63,585). In a state of 13 million residents,...
  • Macron Bypasses Lawmakers to Pass France Pension Overhaul

    03/01/2020 2:27:20 AM PST · by edwinland · 7 replies
    PARIS—French Pres­i­dent Em­manuel Macron moved Sat­ur­day to pass his pen­sion over­haul with­out a vote in the leg­is­la­ture, seek­ing to brush aside tens of thou­sands of amend­ments filed by op­po­si­tion law­mak­ers to slow de­bate. snip The French con­sti­tu­tion al­lows the gov­ern­ment to pass leg­is­la­tion with­out the ap­proval of the As­sem­blée Na­tional, the main body of the French leg­is­la­ture. The move can only be blocked by a suc­cess­ful vote in the leg­is­la­ture on a mo­tion cen­sur­ing the gov­ern­ment. But that is un­likely to hap­pen since Mr. Macron’s party, Re­pub­lic on the Move, con­trols the leg­is­la­ture. snip Mr. Macron wants to es­tab­lish a...
  • U.S. economy on path to 'solid' 2020 growth; budget deficits to top $1 trillion

    01/28/2020 12:14:20 PM PST · by Oldeconomybuyer · 12 replies
    Reuters ^ | January 28, 2020 | by Richard Cowan
    WASHINGTON - The U.S. economy will grow at a “solid” rate of 2.2% this year, the non-partisan Congressional Budget Office forecast on Tuesday, but with federal budget deficits hitting $1.015 trillion. While the economy will be on good footing during this presidential election year, CBO also noted that conditions will lead to “higher inflation and interest rates after a decade in which both remained low, on average.” The inflation and interest rate rises will be noticed this year and continue through 2022 before settling down beginning in 2023, under the forecast. In its updated budget and economic outlook spanning the...
  • The SECURE Act is changing retirement — here are the most important things to know

    01/28/2020 8:16:41 AM PST · by ProtectOurFreedom · 40 replies
    MarketWatch ^ | January 8, 2020 | Allesandra Malito
    President Trump signed the SECURE Act this week (January 8, 2020) as part of the government’s spending bill and it will inevitably affect most retirement savers, for better or worse. The SECURE legislation — which stands for “Setting Every Community Up for Retirement Enhancement” — puts into place numerous provisions intended to strengthen retirement security across the country. Part of the bill addresses the grim outlook for many workers who don’t have access to workplace retirement accounts. It offers small businesses tax incentives to set up automatic enrollment in retirement plans for its workers, or allows them to join multiple...
  • Why The EU’s Pricey Green Deal Will Hurt Workers And The Elderly, While Helping Nobody

    12/27/2019 11:43:19 AM PST · by Kaslin · 10 replies
    The Federalist ^ | December 27, 2019 | Holly Sheer
    The EU won't be able to lead by example if other countries can see what the Green Deal is actually headed toward: economic ruin, job loss, and more unwanted government intrusion. TimeÂ’s person of the year is a teenage activist famous for castigating adults across the world over their perceived inaction on climate change. Other activists tell us the world is burning down around us and weÂ’re doing nothing to stop it.Politicians and scientists are forcing policies on people and employers in moves to supposedly save the world without offering realistic, cost-effective, alternative energy sources. Of all the ills facing...
  • French cops fire tear gas and charge protesters as tens of thousands take to the streets to fight President Macron's pension reforms

    12/18/2019 4:00:44 AM PST · by C19fan · 27 replies
    UK Daily Mail ^ | December 17, 2019 | Ryan Fahey
    French cops launched tear gas cannisters and charged protesters as tens of thousands of workers took to Paris streets to rally against the government's plan to raise the retirement age to 64. Clashes broke out near the Nation square in eastern Paris during a demonstration, organised by trade unions, to demand that President Emmanuel Macron abandon his reforms. Witnesses said police charged a group of protesters who ignored an ultimatum to disperse and were throwing Molotov cocktails.
  • 360-MILE traffic jam hell for Paris commuters as nationwide strikes cause enormous road delays going into the French capital

    12/09/2019 6:37:48 AM PST · by C19fan · 19 replies
    UK Daily Mail ^ | December 9, 2019 | Emily Webber
    French commuters faced a 360-mile traffic jam today as the fifth day of nationwide strikes caused delays into Paris. Traffic was held up getting into the French capital on Paris' ring road, the Peripherique, which was up from 90 miles on an average day. The Parisian metro had only two out of it 16 lines fully operating and the SNCF national railway company warned against severe disruptions in the suburbs of Paris.
  • Mass strikes in France shut Eiffel Tower, trigger clashes

    12/05/2019 8:12:04 AM PST · by C19fan · 23 replies
    AP ^ | December 5, 2019 | Angels Charlton and Claire Parker
    The Eiffel Tower shut down, France’s high-speed trains stood still and tens of thousands of people marched through Paris and other cities Thursday in a massive and sometimes chaotic outpouring of anger at the government’s plan to overhaul the retirement system. Small groups of masked activists smashed store windows, set fires and hurled flares on the sidelines of the otherwise peaceful Paris march, prompting volleys of tear gas from police in body armor. Unions launched the open-ended, nationwide strikes Thursday over President Emmanuel Macron’s centerpiece reform in the biggest challenge to the centrist leader since the yellow vest movement against...
  • Calif. Taxpayers on Hook for Six-Figure Government Pensions

    11/07/2019 9:35:53 AM PST · by MarvinStinson · 32 replies
    freebeacon ^ | NOVEMBER 7, 2019 | Yuichiro Kakutani
    Nearly 80,000 Californians collected six-figure taxpayer-funded pensions in 2018, as retirement costs leave half the state's cities at "high risk" of serious financial distress, according to an analysis. Transparent California, a free-market think tank, found that 6 percent of retired government workers collected more than $100,000 in 2018, an 85 percent jump since 2013. Those payouts represented 20 percent of the $51.7 billion in total pension payments. Taxpayers spent a record-high $40 billion to cover the costs of public sector retirees in 2018, the report also found. The median household income in California is $75,277. The six-figure payouts propel thousands...